Not covered in the article are two critical reasons:
1. They're breaking environmental laws in order to meet power demands. xAI has already been busted on this [1], but they keep finding willing accomplices in rural parts of the country to bypass public opposition or speedrun through regulatory exceptions [2].
2. Companies seem to be fudging their numbers when it comes to GPU capacity & current workloads [3], likely to inflate their IPO valuations. I know Ed Zitron is a divisive figure but I've not seen any journalist on the other side of the argument provide the volume of data that he has.
The main counterarguments to his claims are "but Sam/Dario/Satya/Jensen said X" and that we should treat them as gospel.